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All-in, only up from here ⬆️

your web3 & AI weekly roundup.

November 15, 2024 • Read time: 6 minutes

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gm gm,

Welcome back to another optimistic week, with both crypto and AI going full throttle to wrap up the year in the best way possible. Oh, and BTC hit a new ATH at $93,434.36 on Wednesday.

Elon Musk is leading DOGE (not the coin, but the new Department of Government Efficiency), while the FBI raids the home of Polymarket's CEO and seizes his electronics as part of an investigation with undisclosed reasons.

In AI news, Greg Brockman is back at OpenAI, well-rested and ready to go, with rumors that the company’s launching Operator, an autonomous AI agent, in January 2025.

Here are this week's must-reads:

  • COIN50 Index by Coinbase now tracks the cryptoeconomy.

  • Amazon’s new chip as a response to the rivalry w/Nvidia

  • Sam Altman’s notes on building the future

As always, we’re using this space to provide you with the latest product updates and relevant industry news in the shortest form possible.

Let’s go! @getenzyme

IN THE SPOTLIGHT
Coinbase is now tracking the cryptoeconomy

Coinbase just launched the COIN50 Index, a new benchmark tracking over 50 digital assets and crypto market trends on its platform.

But don’t get too excited if you’re in the US, UK, or Canada; it’s not available there.

Developed with MarketVector, this index is aimed at institutional and advanced users outside these restricted countries. Coinbase’s focus is clearly on emerging markets and crypto-friendly zones.

On top of that, Coinbase has also acquired Utopia Labs to start building its on-chain payments infrastructure.

IN THE SPOTLIGHT
Amazon’s chip takeover plan

The Trainium 2 chip aims to strengthen Amazon’s position in the AI hardware market while cutting reliance on Nvidia.

Set to launch next month, the chip was developed by Annapurna Labs and is already being tested by Anthropic.

Amazon plans to invest around $75 billion in cloud AI infrastructure in 2024, with even higher estimates projected for the following year. Additional plans include funding university AI research by offering free cloud credits to researchers by incentivizing a shift from Nvidia’s chips to Trainium.

IN THE SPOTLIGHT
Building the future

YC President Garry Tan sits down with Sam Altman to talk about OpenAI’s inception, what’s next, and must-apply advice for founders navigating massive platform shifts, with ASI potentially just days away.

This might be the best podcast to tune into this week, so hit ‘play’ and take notes.

SUBSTRATES
What else is on the radar?

WEB3

  • Coinbase unexpectedly lists PEPE and WIF, while Robinhood adds SOL, PEPE, ADA, and XRP to its platform.

  • Tether launches an open-source wallet development kit for both businesses and developers.

  • McDonald's teams up with Doodles to drop over 100 million limited-edition McCafé x Doodles holiday cups at participating locations across the U.S.

  • Ethereum Labs is developing Namechain, its own Layer 2 network, going live next year.

  • Detroit will accept crypto payments for taxes starting in 2025, managed by PayPal.

  • Bitcoin replaces silver as the 8th largest asset by market cap.

AI

  • Perplexity starts experimenting with ads on its platform.

  • Mistral releases an open-source AI platform for moderation, aiming to spot and flag harmful content across 9 categories and 11 languages.

  • SuperMaven joins Cursor to build the best AI code editor in the world.

  • The Vatican and Microsoft launch an AI-generated version of St. Peter’s Basilica.

  • Google DeepMind releases AlphaFold 3’s source code and model weights, making the AI protein-prediction tool available for non-commercial use.

FROM THE REPOSITORY
Check this out!

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Visual of the week: Stack Overflow website traffic in free-fall after ChatGPT.

SCOOPS OF THE WEEK

And that’s it for the week - not so short but sweet.

Keep on building!

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